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🤝🏻 Mongolia and Rio Tinto Reach Formal Agreement to Reduce Oyu Tolgoi Management Fees ⛏️

May 19, 2026

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A working group established by the Prime Minister of Mongolia has reached an agreement with Rio Tinto to reduce the management fees of the Oyu Tolgoi project by half.

  • 📌 Prime Minister Uchral N. described the outcome as the Government’s first concrete achievement in the ongoing Oyu Tolgoi negotiations.

  • 💰 According to the working group led by Minister of Industry and Mineral Resources Damdinnyam G, the agreement is expected to eliminate overlapping fees and reduce management-related costs by USD 2.2 billion.

🇲🇳 As a result, Mongolia’s expected benefits from the project are projected to increase by USD 1.5 billion.

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